Insurance What is a Claim? Claim[kleym]noun1.An insurance Claim is a policyholder’s request to an insurance company for restitution based on the terms of the insurance Policy. The insurance company, through an Adjuster, investigates the validity of the Claim and pays the policyholder. Share | Related Content Comparing Mortgage Terms Estimate the total cost in today's dollars of various mortgage alternatives. Protection from a Financial Emergency A financial emergency can happen to anyone. Career With a Special Needs Child Women and the life-work juggling act.